In the health insurance policy , the facility of cashless claim is given to the customers. So that at the time of medical emergency, there is no financial problem of any kind. Cashless feature has become a common practice in all mediclaim policies these days.
Under this facility, the insurance company pays directly to the hospital the expenses incurred on the treatment of the insured. That is, the customer does not have to pay any money while being admitted to the hospital. Cashless facility is always better than claim reimbursement. Because the paperwork and lengthy process has to be followed for claim settlement.
Under cashless claim settlement in a health insurance policy, the insurance company pays the amount spent on the treatment of the insured in the hospital directly to the hospital. This includes all the expenses incurred on the treatment in the hospital. According to Venkatesh Naidu, CEO, Bajaj Capital Insurance Broking, this facility is considered the best. Because it reduces the burden of the customers. Earlier the insured had to pay for the treatment himself and then had to apply for the claim along with the bill.
Why Cashless Claim Process Necessary?
Taking care of yourself and your family members is the first priority during a medical emergency. In such a time, no one likes to run away and bear the cost of treatment while having health insurance. Because in this bad time it is more important to stay with the family. This important thing and to avoid such situations, insurance companies provide the facility of cashless claim.
Due to the cashless claim facility, customers do not have to worry about hospitalization expenses and bills, rather they focus on better treatment of their loved ones and stay with them. This cashless claim facility is of great relief during medical emergencies.
How to avail the facility of cashless claim?
To avail the cashless claim facility in a health insurance policy, the insured has to undergo treatment at a hospital listed by an insurance company. However, the conditions may be different for pre-planned and unplanned medical treatment.
